A seminar has been held in Chennai city of the India state of Tamil Nadu to promote trade ties between Vietnam and India.

During the event, Vietnamese Trade Counsellor Nguyen Son Ha provided the participants with information about the Vietnamese economy, and bilateral trade and investment ties between Vietnam and India.

He introduced them to the ASEAN ( Vietnam )- India free trade agreement, which took effect in June 2010, as well as the tax reduction roadmap to lure more Indian investors to Vietnam.

The trade official answered the Indian firms’ inquiries about Vietnam’s policies to attract foreign direct investment, including the Law on Foreign Investment, preferential treatment, and current policies on import-export management.

Ha provided the participants with contact details of related Vietnamese agencies and invited them to participate in several trade fairs to be held in Vietnam later this year and the coming years.

Two-way trade between Vietnam and India increased from 2 billion USD in 2009 to 3.94 billion USD in 2012.

The figure is expected to hit 5 billion USD this year, and 7 billion USD in 2015./.